{"id":1004196272,"date":"2017-11-06T08:00:42","date_gmt":"2017-11-06T16:00:42","guid":{"rendered":"https:\/\/www.commercialsearch.com\/news\/?p=1004196272"},"modified":"2022-12-08T20:24:34","modified_gmt":"2022-12-09T04:24:34","slug":"chesapeake-lodging-trust-to-sell-46m-minneapolis-hotel","status":"publish","type":"post","link":"https:\/\/www.commercialsearch.com\/news\/chesapeake-lodging-trust-to-sell-46m-minneapolis-hotel\/","title":{"rendered":"Chesapeake Lodging Trust to Sell $46M Minneapolis Hotel"},"content":{"rendered":"<p>By Adina Marcut<\/p>\n<div id=\"attachment_1004196273\" style=\"width: 310px\" class=\"wp-caption alignright\"><a href=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2017\/11\/The-Minneapolis-Hotel.png\" target=\"_blank\" rel=\"noopener noreferrer\"><img decoding=\"async\" aria-describedby=\"caption-attachment-1004196273\" data-attachment-id=\"1004196273\" data-permalink=\"https:\/\/www.commercialsearch.com\/news\/chesapeake-lodging-trust-to-sell-46m-minneapolis-hotel\/the-minneapolis-hotel\/\" data-orig-file=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2017\/11\/The-Minneapolis-Hotel.png\" data-orig-size=\"800,656\" data-comments-opened=\"0\" data-image-meta=\"{&quot;aperture&quot;:&quot;0&quot;,&quot;credit&quot;:&quot;&quot;,&quot;camera&quot;:&quot;&quot;,&quot;caption&quot;:&quot;&quot;,&quot;created_timestamp&quot;:&quot;0&quot;,&quot;copyright&quot;:&quot;&quot;,&quot;focal_length&quot;:&quot;0&quot;,&quot;iso&quot;:&quot;0&quot;,&quot;shutter_speed&quot;:&quot;0&quot;,&quot;title&quot;:&quot;&quot;,&quot;orientation&quot;:&quot;0&quot;}\" data-image-title=\"The Minneapolis Hotel\" data-image-description=\"\" data-image-caption=\"\" data-large-file=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2017\/11\/The-Minneapolis-Hotel.png?w=800\" loading=\"lazy\" class=\"wp-image-1004196273 size-medium\" src=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2017\/11\/The-Minneapolis-Hotel.png\" alt=\"The Hotel Minneapolis \" width=\"300\" height=\"246\" srcset=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2017\/11\/The-Minneapolis-Hotel.png 800w, https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2017\/11\/The-Minneapolis-Hotel.png?resize=300,246 300w, https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2017\/11\/The-Minneapolis-Hotel.png?resize=768,630 768w\" sizes=\"auto, (max-width: 300px) 100vw, 300px\" \/><\/a><p id=\"caption-attachment-1004196273\" class=\"wp-caption-text\">The Hotel Minneapolis<\/p><\/div>\n<p>Chesapeake Lodging Trust has entered an agreement to sell The Hotel Minneapolis, Autograph Collection, a 222-key property located in downtown Minneapolis for $46 million or $207,000 per key. The Trust acquired the asset back in 2012 for the same price.<\/p>\n<p>Located at 215 S. Fourth St., in the heart of the city, the hotel is just one block from the Light Rail Transit and a short walk to sports venues, cultural amenities and many corporate headquarters. University of Minnesota, Mall of America, U.S. Bank Stadium and Guthrie Theatre are a few local attractions that are nearby. Additionally, Minneapolis-St. Paul International Airport is approximately 13 miles away.<\/p>\n<h2>Multiple event rooms<\/h2>\n<p>The pet-friendly hotel offers more than 5,000 square feet of total event space and includes common area amenities such as:<\/p>\n<ul>\n<li>24-hour business center<\/li>\n<li>24-hour room service<\/li>\n<li>24-hour fitness center<\/li>\n<li>24-hour valet parking<\/li>\n<li>baggage storage<\/li>\n<li>dry-cleaning services<\/li>\n<li>concierge lounge<\/li>\n<li>Wi-Fi<\/li>\n<li>seven event rooms<\/li>\n<li>the largest meeting room can accommodate up to 135 people<\/li>\n<\/ul>\n<p><em>\u201cWe are excited to announce the pending sale of The Hotel Minneapolis, a hotel located in a non-core market for Chesapeake, and by timing the sale, we will be able to forego the need to reinvest capital for a required 2018 renovation estimated at approximately $5 million,\u201d<\/em> James Francis, president &amp; CEO of The Trust, said in a statement.<\/p>\n<p>Last month, Marriott opened StateView Hotel, a 164-key hotel, part of Autograph Collection Hotels, Marriott International\u2019s distinctive range of <a href=\"https:\/\/www.commercialsearch.com\/news\/new-marriott-hotel-opens-in-raleigh-nc\/\">independent hotels<\/a>. \u00a0<\/p>\n<p><em>Image via Google Street View<\/em><\/p>\n","protected":false},"excerpt":{"rendered":"<p>The Hotel Minneapolisis situated in the heart of Minneapolis, offering convenient access to sports venues, cultural amenities and many corporate headquarters. The trust first purchased the asset back in 2012. <\/p>\n","protected":false},"author":436,"featured_media":1004196273,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[21743,21751,36076,21742,15],"tags":[38230,33877],"class_list":["post-1004196272","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-deals","category-hotel","category-minneapolis-st-paul","category-latest","category-west","tag-chesapeake-lodging-trust","tag-marriott"],"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v23.4 (Yoast SEO v24.6) - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>Chesapeake Lodging Trust to Sell $46M Minneapolis Hotel - Commercial Property Executive<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.commercialsearch.com\/news\/chesapeake-lodging-trust-to-sell-46m-minneapolis-hotel\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Chesapeake Lodging Trust to Sell $46M Minneapolis Hotel\" \/>\n<meta property=\"og:description\" content=\"The Hotel Minneapolisis situated in the heart of Minneapolis, offering convenient access to sports venues, cultural amenities and many corporate headquarters. 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